Oregon Real Estate exam |113| questions with complete solution

Oregon Real Estate exam |113| questions with complete solution Constructive eviction -Correct Answer-Acts done or not done by the landlord which materially disturb or impair tenants occupancy so as the tenant is forced to leave Surrender and acceptance -Correct Answer-Mutual agreement to terminate lease The residential landlord and tenant act -Correct Answer-Covers leased structures used as home, residence or sleeping place. EXCLUDES nursing homes, lease to own, dorms, frats, resident managers homes Law of agency -Correct Answer-Statutory law controlling the rights and duties of clients (principals) and agents (brokers) Fiduciary responsibility -Correct Answer-Loyalty, obedience, accountability Commission -Correct Answer-Committing an act of making a false statement Conversion -Correct Answer-Using a clients funds for personal use Purchase money note -Correct Answer-Note given to the seller in place of cash Initial agency disclosure pamphlet -Correct Answer-Describes agency choices/must be given to seller prior to entering into listing agreement and to buyer when first contact is made of buyer is seeking representation Disclosed limited agency -Correct Answer-Seller and buyer represented by the same real estate business (whether that's a principal broker or associates broker) Sellers agent -Correct Answer-Listing agent Selling agent -Correct Answer-Agent who writes the offer (can be buyers agent, sellers agent or disclosed limited agent) Property condition disclosure law -Correct Answer-Buyers right to receive disclosure statement on potential property, rescind transaction within 5 business days based on statement and to waive the right to rescind